This project provides the HeavyFinance investor community with an opportunity to invest in the development of the Lithuanian farm. The funds are collected to puchase 10 ha agricultural land, make final payments for JCB 541-70 Agri telescopic loader and increase working capital. The loan will be secured by pledging two owned land plots, the purchased 10 ha land plot and the telescopic loader.
The project owner has been engaged in mixed farming since 2007. He is continuously expanding the farming territory and now the farm has 347,82 ha of arable land, two tractors, a combine harvester among other equipment needed for farming.
Part of this land is being used to raise sheep. It is a quite uncommon farming activity in Lithuania, however, an increasing number of farmers start raising domestic sheep due to increasing prices of lamb in international markets. Furthermore, another part of the land is dedicated to ecological farming, therefore the farm receives more money in subsidies because ecological farming is one of the EU-supported priorities.
The farm’s financial statements show the difference between 2019 and 2020 income since 2020 income is significantly lower. It happened due to the fact that harvest buyers did not have sufficient funds due to the consequences of the COVID-19 pandemic to buy the contracted harvest worth 52.150 € in 2020. The farmer received this amount of money only in 2021, so this fact is not reflected in the 2020 financial statements.
To implement all the farm's development plans, the farmer decided to borrow 52.200 € the purchase of 10 ha agricultural land, final payment for the telescopic loader and other smaller expenses related to the farm.
This is not the first farmer's project on the HeavyFinance platform - the farmer’s HeavyFinance loan portfolio amounts to 181.000 €. The loan payments are made on time.
Area of declared land: 347,82 ha